127 Broad StBurlington, NJ 08016

  • Residential income properties
  • 3,560 SF
For Sale
$600,000 View listing

Property Details for 127 Broad St

Year built
1870
Lot size
0.13 AC
Property size (Sq ft)
3,560 SF
Zone code
C-1
Property type
Residential income properties
Property subtype
Residential income homes
APN
05 00134-0000-00014
APU
500134000000014

Description

This exceptional investment opportunity encompasses two adjacent properties at 127 and 129-131 E Broad Street in Burlington, NJ, totaling six units and offering significant upside. The package includes 127 E Broad Street, a four-unit building featuring four one-bedroom apartments. Each apartment boasts individual heating and hot water systems, with tenants responsible for electricity and gas. The landlord covers water and sewer expenses. Currently, three units are occupied, and one is vacant, providing immediate rental income. The second property, 129-131 E Broad Street, is a completely renovated building currently configured as a large five or six-bedroom house and a small office space. This presents a unique chance to convert the residential portion into additional apartments while maintaining the existing first-floor commercial space. The potential for increased rental income is substantial. The combined properties sit on a 0.19-acre lot. The asking price for this package deal is $600,000. The properties are sold "as is," and the buyer is responsible for all necessary inspections prior to closing, including but not limited to a Certificate of Occupancy inspection and any other required inspections to ensure title transfer. Prospective buyers should independently verify all zoning regulations with the Burlington City Zoning Officer to confirm the feasibility of any planned conversions or additions. This is a rare chance to acquire a multi-family property with immediate cash flow and significant future development potential.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $815,200
    6.5%
    $752,492
    7%
    $698,743
  • Comparable approach

    Method
    Valuation
    Relative Method
    $720,982
    Geo Method
    $720,982
  • Alternative Use

    Use
    Valuation
    Residential
    $752,492
    Hospitality
    $689,279
    Educational
    $573,472
    Medical
    $593,195
    Retail
    $892,068
127 Broad St, Burlington, New Jersey

Location Insight

City
Burlington
County
Burlington
State
New Jersey
Latitude
40.0785
Longitude
-74.8557
CBSA code
37980
CBSA name
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$9,260
$68,100
$152,000
$220,100
-
$68,100
$152,000
$220,100

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